Top 5 questions for starting a business

Congratulations, you have made the leap and decided to start a new business! It’s exciting times, and we would like to help you on that journey. Below are our top 5 questions for you to think about. Please contact us and we can talk them through with you.

What kind of structure will you use? Hong Kong has many, most relevantly Sole Proprietors and Limited Companies. You could even think about using an offshore company.

Do you have a plan? An idea is one thing but it is worthwhile documenting what you are going to do. This can be as simple as a route map or objectives with a timeline. A cashflow with variables is a challenge but is essential to work out selling prices, when you can spend money and what finance you need.

Do you have a visa? Expats need a visa to work in Hong Kong and that includes working in your own company. Getting this wrong will cause big problems later!

Who will look after the back office? Accounting, Invoicing, Payroll – all this admin can be a distraction from your key skills. Consider outsourcing it even if it is to decide on when to stop doing it yourself.

How will you reach your customers? What kind of marketing and/or outreach will you need and when will you do it? Do you already have a base of customers or contacts that you can build on?

The long and in-efficient way to think about this is to sit on your sofa and Google away. Or you could talk to multiple service providers who only want you to use their own services.

The quick way is to have a short no-obligation call with us. We will listen to your situation and explain how we can help. We have a pool of specialists who we can refer you too if we don’t do what you need.